Bajaj Auto hits new high on September sales numbers

The stock hit a new high of Rs 3,208, up 3% on BSE after the company reported a highest ever total sales of 428,752 units in September

Bajaj Auto hits a new high of Rs 3,208, up 3% on BSE after the company reported a highest ever total sales of 428,752 units in September against 376,765 units sold in the same month last year. The company recorded sales growth of 14% in September, its highest monthly sales growth rate since March 2016.

Bajaj Auto’s commercial vehicles sales were up 32% at 59,074 units as against 44,789 in the corresponding month last year. Motorcycle sales were at 369,678 units as against 331,976 in the year-ago month, up 11%, the company said in a statement.

Overall exports in September grew 21% at 146,973 units as against 121,173 in the same month last year, it added.

Since its recent low of Rs 2,732 on August 29, 2017, the stock outperformed the market by surging 17% against a marginal 0.36% rise in the S&P BSE Sensex. Thus far in the calendar year 2017, it rallied 22% against 18% rise in the benchmark index.